Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a debut Rule 144A/Regulation S offering by Bausch + Lomb Corporation (NYSE: BLCO) (“Bausch + Lomb”) consisting of $1.4 billion aggregate principal amount of 8.375% Senior Secured Notes due 2028. The Firm also represented JPMorgan Chase Bank, N.A. and the other lead arrangers in connection with Bausch + Lomb’s $500 million incremental term loan facility.
The proceeds from the transactions were used to finance Bausch + Lomb’s acquisition of XIIDRA® and certain other ophthalmology assets and to pay associated fees and expenses, and may be used for general corporate purposes, including repayment of existing debt.
Bausch + Lomb is a leading global eye health company with a comprehensive portfolio of contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. XIIDRA® is a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease (DED) focusing on inflammation associated with dry eye.
The Simpson Thacher team included John C. Ericson, Ignacio Perez and Neil Patel (Capital Markets); Dan Kay, Patrick Wolff, Jule Walsh and Kelsey Anspach (Banking & Credit); Vanessa Burrows and Nawa Lodin (Healthcare); Jonathan Pall (Collateral); Courtney Welshimer and Rachelle Broida (Intellectual Property); Michael Mann (Tax); Ryan Stott (Executive Compensation & Employee Benefits); and Andrew Pagliughi (FINRA and Blue Sky).